Asked by Mdm. Berlynn Ong
How long will the resale levy be waved off after selling my flat???
2005 views
1 Answer
Hi Mdm Berlynn,
Just for you information, a resale levy is applicable only when we sell dispose of a subsidized flat and applies for a second subsidized. So currently, is your current flat brand new from HDB when you bought it or did you buy it from the open market with a CPF Grant? if the answer is yes, then when you apply for a BTO from HDB, you will need to pay the resale levy. If you bought your current flat from open market without any CPF Grant, then there is no resale levy.
Resale levy will never be waived. If after selling your subsidized flat and you never ever buy another subsidized flat from HDB, then you will never need to pay the resale levy. The moment once you apply for a subsidized flat then you will need to pay the resale levy. Do take note that interests will be chargeable for the resale levy on a per annum basis if you decide to apply for a subsidized flat few years later.
Do feel free to drop me a call if you still do not have a clear picture and I can explain to you over the phone. No worries, there are no obligations. Thanks.
Best Regards,
Jeffrey Heng
Senior Team Director
ERA Realty Network Pte Ltd
Property Navigators (The #1 Team in ERA for 2009 and 2011)
Mobile : 9858 1322
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More
Just for you information, a resale levy is applicable only when we sell dispose of a subsidized flat and applies for a second subsidized. So currently, is your current flat brand new from HDB when you bought it or did you buy it from the open market with a CPF Grant? if the answer is yes, then when you apply for a BTO from HDB, you will need to pay the resale levy. If you bought your current flat from open market without any CPF Grant, then there is no resale levy.
Resale levy will never be waived. If after selling your subsidized flat and you never ever buy another subsidized flat from HDB, then you will never need to pay the resale levy. The moment once you apply for a subsidized flat then you will need to pay the resale levy. Do take note that interests will be chargeable for the resale levy on a per annum basis if you decide to apply for a subsidized flat few years later.
Do feel free to drop me a call if you still do not have a clear picture and I can explain to you over the phone. No worries, there are no obligations. Thanks.
Best Regards,
Jeffrey Heng
Senior Team Director
ERA Realty Network Pte Ltd
Property Navigators (The #1 Team in ERA for 2009 and 2011)
Mobile : 9858 1322
Email : hengjeffrey@gmail.com
Web : www.jeffreyheng.com Read More
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